Jet Airways (India) slips on profit booking

Jet Airways (India) fell 3.86% to Rs 291.60 at 14:01 IST on BSE on profit booking after the stock jumped 11.26% in the preceding three trading sessions to Rs 303.30 on 11 April 2014, from a recent low of Rs 272.60 on 7 April 2014.

Meanwhile, the BSE Sensex was down 172.92 points, or 0.76%, to 22,456.04.

On BSE, so far 4.30 lakh shares were traded in the counter, compared with an average volume of 4.17 lakh shares in the past one quarter.

The stock hit a high of Rs 306.65 and a low of Rs 285.05 so far during the day. The stock hit a 52-week high of Rs 688.60 on 25 April 2013. The stock hit a 52-week low of Rs 210.25 on 5 February 2014.

The stock had outperformed the market over the past one month till 11 April 2014, rising 25.88% compared with the Sensex's 3.68% rise. The scrip had outperformed the market in past one quarter, rising 10.19% as against Sensex's 9.01% rise.

The mid-cap company has an equity capital of Rs 113.60 crore. Face value per share is Rs 10.

Jet Airways (India) reported a net loss of Rs 267.89 crore in Q3 December 2013, lower than net loss of Rs 891.01 crore in Q2 September 2013. Net sales rose 11.64% to Rs 4229.41 crore in Q3 December 2013 over Q2 September 2013.

The company reported a net loss of Rs 267.89 crore in Q3 December 2013 as against net profit of Rs 85 crore in Q3 December 2012. Net sales rose 7.3% to Rs 4229.41 crore in Q3 December 2013 over Q3 December 2012.

Jet Airways (India) said that rupee depreciation, high fuel prices and increase in airport charges continued to impact costs in Q3 December 2013. Instances of aircraft on ground impacted the quarter by Rs 105.70 crore, Jet Airways (India) said in a statement. During the quarter two A330's were sold and the balance access capacity is expected to be sold/leased out in coming quarter, the company said. Jet Airways said that fuel costs went up by approximately 10.6% in Q3 December 2013 over Q3 December 2012.

Jet Airways currently operates a fleet of 113 aircraft. With an average fleet age of 5.18 years, the airline has one of the youngest fleet of aircraft in the world. The company operates flights to 75 destinations.

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